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If you currently bank with HSBC but want to close your bank account, this guide is for you. Perhaps you’re switching to a new bank, or simply don’t use your account anymore.
Whichever is the case, we’ll show you exactly how to close your HSBC bank account. We’ll cover the best way to do it and whether there are any fees or charges you need to know about.
And if you’re looking for a new account, make sure you check out Wise. Later on, we’ll show you how the Wise multi-currency account could be a real money-saver when it comes to international transactions.
But first, let’s get that HSBC bank account closed.
The easiest way to close a bank account with HSBC is online. Here’s what you need to do¹:
- Login to your HSBC online banking account
- Look for and select the ‘Chat’ tab
- Chat online with a customer service agent and request to close your account
Once you’ve provided all the required information and gone through the necessary steps, your account will be closed. The process is often completed overnight, but bear in mind that it could take as long as 7 days¹.
You can also close your account through the HSBC mobile banking app. Simply sign in, select ‘Support’ and chat to a customer service agent¹.
If you don’t have access to online or mobile banking, you can close your account through another method. Let’s run through each of the available options.
You can close your HSBC account in any branch, but it’s recommended to make an appointment first¹. You can find your nearest branch and relevant contact details here.
Make sure you bring any debit cards, cheque books or credit books linked to the account along with you on the day. It’s also a good idea to have a form of photo ID ready, such as your passport or driving licence.
To speed things up, you can also download, print and complete an HSBC close bank account request form to bring to your appointment. You can find it here.
If you’re not able to get to a branch, you can also print off and post your completed account closure form to HSBC. Here’s the address¹:
HSBC UK Bank plc
Customer Service Centre
If you’re with a UK branch of HSBC but close your bank account from overseas, you’ll need a different address¹:
HSBC UK Bank plc
51 Saffron Road
The last option is to call up HSBC customer services and request the closure of your account over the phone. Make sure you have all the details to hand, and call 03457 404404¹ to get started.
Just like with other methods, your account should be closed overnight, but it can take anywhere up to 7 days¹.
Before you ask HSBC to close your bank account, there are a few key things you should check¹:
- There should be no money in the account - HSBC will only close account which have a nil balance
- Interest and other charges may not have been applied at the time of closure, which means that you could be liable for any money owed.
Another crucial thing to check is whether your account type has early closure fees¹ - as some do with HSBC. Have a look at the terms and conditions for your HSBC account, just to make sure you won’t be charged any unexpected fees.
If you’re on the lookout for a new account, it pays to check out alternative options. This is particularly important if you regularly send or receive money internationally, whether for your business or for personal reasons.
Banks can be expensive when it comes to overseas transfers, charging high fees and adding a mark-up to the exchange rate.
Luckily, there’s a better solution available. The Wise multi-currency account lets you send money worldwide for low fees and the real, mid-market exchange rate. There are no mark-ups, hidden costs or monthly fees to worry about, and all transfers are fast and secure.
All things considered, it could be much cheaper than using a traditional local account.
You can even manage your money across 50+ currencies, receive international payments for free, and spend like a local when abroad using the Wise debit card.
And there you have it - everything you need to know to close your HSBC account. There are loads of different ways to do it, including online, post, phone, in-branch and via the mobile banking app. So you can choose whichever method suits you best. Good luck!
Sources used for this article:
- HSBC - how to close your bank account
Sources checked on 24-Jan-2022.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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